Some PRChina mucketymuck:
“We cannot imagine how many Chinese factories will go bankrupt, how many Chinese workers will lose their jobs, and how many migrant workers will return to the countryside” should China acquiesce to demands for a 20 percent to 40 percent gain, Wen said in New York yesterday. “China would suffer major social upheaval.” Bloomberg via Ticker
the "20-40% gain" refers to letting the yuan run at market rates, rather than the manipulated discount PRChina currently enjoys.
Tell it to Mayville's, or Northern Indiana/Southern Michigan's, or Ohio's, or (for that matter) Mexico's former factory-workers.
See if they'll buy you a beer for your tears.
Why what do you mean? The PRC doesn't manipulate it's currency. Just ask them.
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